1345 York StPhiladelphia, PA 19132

Property Details for 1345 York St

Year built

2023

Property size (Sq ft)

3,000 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a newly constructed, fully occupied two-unit apartment building in Philadelphia, PA. Located at 1345 W York St, this property boasts a prime location near Temple University's main campus, offering easy access to public transportation via the Broad Street subway and bus lines. The building, completed in 2023, features a total of 3,000 square feet of net rentable space, distributed across two spacious three-bedroom, three-bathroom units. Each unit is currently leased, generating a combined monthly rental income of $3,800, plus a $100 water charge. This translates to a strong net operating income (NOI) of $45,600, resulting in an attractive 7.50% capitalization rate. The property sits on a 960 square-foot lot and is zoned RM-1. The building is three stories tall and benefits from a ten-year tax abatement, significantly enhancing its financial performance. This fee-simple ownership offers a stabilized, multi-family investment with high-end finishes and significant potential for appreciation, making it an ideal addition to any investment portfolio. The asking price is $560,000.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9894

Longitude

-75.1549

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